Undergraduate Course: Economics 1A (VS1) (ECNM08010)
Course Outline
| School | School of Economics |
College | College of Humanities and Social Science |
| Credit level (Normal year taken) | SCQF Level 8 (Year 1 Undergraduate) |
Availability | Part-year visiting students only |
| SCQF Credits | 20 |
ECTS Credits | 10 |
| Summary | The course is intended to develop a rigorous understanding of core economic models and analysis, together with an ability to apply the analysis in a variety of contexts. Semester 1 focuses on developing and using models of supply and demand in both microeconomic (individual market) and macroeconomic (economy-wide, aggregate) contexts. The recommended textbooks are: Pindyck and Rubinfeld 'Microeconomics' (Pearson) and Mankiw 'Macroeconomics' (Palgrave). Learning-by-doing, through problem solving and project work, are an important ingredient of the course, with regular on-line tests to reinforce an active approach to learning. |
| Course description |
Not entered
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
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Co-requisites | |
| Prohibited Combinations | |
Other requirements | A background in mathematics beyond GCSE level or equivalent is recommended. Students with a weaker maths background will need to be prepared to work at developing their maths skills. |
Information for Visiting Students
| Pre-requisites | None |
Course Delivery Information
| Not being delivered |
Learning Outcomes
After successful completion of this course the student will have knowledge and understanding of: supply & demand analysis of competitive markets - comparative statics; elasticities; and ability to apply analysis to e.g. goods and factor markets, taxes, regulation, international trade, and interacting markets. Flex-price ('Classical') and fixed-price ('Keynesian') models of closed and open macroeconomies. Cost curves and production functions; monopoly; consumer choice; competitive equilibrium and welfare; market failure.
Ability to apply basic mathematical techniques in economic contexts: manipulating & solving linear equation systems; functions and graphs; basic calculus (elasticities; maximization/minimization); Edgeworth boxes; simple regression.
General skills developed include: critical analysis and assessment; reasoning adaptably and systematically; problem-framing and problem-solving skills; numeracy and quantitative skills; obtaining and processing information from a variety sources; presentation and communication skills; interpersonal and group skills; computer and IT skills; independent action and initiative; managing tasks and time; coping with stress.
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Additional Information
| Graduate Attributes and Skills |
Not entered |
| Additional Class Delivery Information |
Weekly one and a half hour tutorials to be arranged in addition. |
| Keywords | Not entered |
Contacts
| Course organiser | Mr Sean Brocklebank
Tel: (0131 6)50 6955
Email: Sean.Brocklebank@ed.ac.uk |
Course secretary | Ms Dawn Mcmanus
Tel: (0131 6)50 6946
Email: Dawn.McManus@ed.ac.uk |
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